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A 100k business loan can greatly help businesses expand their operations; it can also be a valuable tool to get your business out of a negative period. Business loans for £100,000 have been a popular choice for companies after the pandemic. This allows business owners to pull their operations out of any slump experienced in the pandemic and lockdown.
Suppose you're looking to grow your business. In that case, a loan for 100k can give you the means to afford new business spaces, equipment, and other expensive business assets, as a business loan can spread the cost of these things over a more extended period, making it easier for you to pay for what you need.
There are many different things you can use a £100,000 business loan for, including items such as:
● Expanding to new spaces
● Buying business equipment
● Covering employee pay
● Purchasing business inventory
● Covering tax requirements
By business standards, a loan for £100,000 may not seem like a tremendous amount, but this is a large enough loan that you will usually expect to be required to provide security for this amount in a business loan. You may still find some options with lenders willing to provide unsecured loans for £100,000, but these may be more difficult to qualify for, especially if your business is relatively new.
Unsecured loans for £100,000 usually come with less desirable loan terms and higher interest rates, especially for business loans of this amount. Qualifying for £100,000 in an unsecured business loan could be possible, but it would require excellent credit history and a perfect business plan; all your business financial reports would have to be held to a very high standard to allow for a 100k unsecured business loan.
It would be best if you considered using a secured business loan for this money. The types of things you can use to ensure your business loan include:
● Personal Savings
● High-end artwork
● Other high-end items such as jewellery
● Business inventory
● Business office space or warehouse space
● Business equipment
Secured loans can sometimes take longer to be approved than unsecured ones, as the lender will need to verify the value of the assets you are securing your loan against. However, using security for your loan will almost always mean you can expect better terms and a lower interest rate as there is less risk involved for the lender.
If you need help in finding the best type of security for your loan or you wish to find an unsecured loan for
£100,000 and are struggling to find a good option, contact our experts at Clifton Private Finance, and we will do our best to ensure you find the best financial solution for your business needs.
Depending on the type of business you are running and the financial history of your business, there will be various options available to you for types of business funding. These include things such as:
● Getting a traditional business loan. Traditional business loans are available from most banks and specialist lenders. You make an application for the loan with information on your business's financial and credit history and provide the lender with a business plan and other information. If approved for the loan, you will receive the agreed loan amount and repay the balance monthly, often with a fixed interest rate.
● A cash advance for your business. If your income and business sales often fluctuate, which makes you uncertain when you could repay your loan, a business cash advance could be the option for you. This means you agree to a fixed loan fee and pay back a percentage of each transaction or sale your business has until you have fully repaid your loan. If your company does well, you will repay your loan faster; if the business is slow, you will take longer to repay your loan.
● A start-up loan for new businesses. If your business has been operating for under two years, you could apply for a start-up loan. However, you may struggle to get a start-up loan for the full
£100,000 you need.
● Asset financing. This is a way to purchase expensive assets for your business and spread out the costs over a more extended period. Asset financing is more expensive than paying upfront for a product, but it can be an excellent way to help get what you need for your business to continue growing.
● A line of credit for your business. A business line of credit works like a credit card or an overdraft
There are many reasons to work with our expert brokers to find the best deal for you and your business. As a specialist finance broker, we provide high-quality business loan solutions for our clients.
Reasons you should get in touch with our specialist brokers include the following:
● Market-leading rates.
● Borrow up to 60% of your turnover.
● Loans from £25,000 to £25 million.
● Large business loans, working capital loans, unsecured and secured business loans,
e-commerce financing, revolving credit facilities, merchant cash advances, asset finance, invoice finance, management buyout finance, and business acquisition finance.
● Loans under £150,000 a 2-hour credit decision. Above £150,000, it takes a little longer!
● Finance for residential and commercial including retail outlets, restaurants, cafes, guest houses and B&Bs, offices, warehouses, industrial units, factories, HMOs, nursing and care homes, gyms, investment properties, development land and buy-to-let property (portfolios and limited companies welcome).
Get in touch with our brokers today and begin taking the next steps for your business.
Business loans for:
As a specialist finance broker, Clifton Private Finance can provide a clear picture of your options. We will assess your circumstances and arrange a finance solution tailored to your needs.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.